Mackenzie Financial Corp Increases Holdings in W. P. Carey Inc. (NYSE:WPC)

Mackenzie Financial Corp grew its holdings in shares of W. P. Carey Inc. (NYSE:WPCGet Rating) by 32.2% in the second quarter, Holdings Channel reports. The institutional investor owned 22,891 shares of the real estate investment trust’s stock after purchasing an additional 5,570 shares during the period. Mackenzie Financial Corp’s holdings in W. P. Carey were worth $1,897,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of WPC. Comerica Bank lifted its holdings in W. P. Carey by 2.5% during the 1st quarter. Comerica Bank now owns 7,995 shares of the real estate investment trust’s stock worth $685,000 after buying an additional 197 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in W. P. Carey during the 1st quarter worth about $230,000. Atria Investments LLC lifted its holdings in W. P. Carey by 10.8% during the 1st quarter. Atria Investments LLC now owns 21,915 shares of the real estate investment trust’s stock worth $1,772,000 after buying an additional 2,130 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in W. P. Carey by 76.7% during the 1st quarter. CENTRAL TRUST Co now owns 530 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 230 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in W. P. Carey by 3.4% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 79,681 shares of the real estate investment trust’s stock worth $6,441,000 after buying an additional 2,609 shares during the last quarter. 64.74% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Stock Up 0.4 %

WPC opened at $80.62 on Wednesday. The business has a 50 day moving average price of $75.63 and a two-hundred day moving average price of $80.99. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.83. The company has a market cap of $16.77 billion, a PE ratio of 31.99, a P/E/G ratio of 11.82 and a beta of 0.76. W. P. Carey Inc. has a 52 week low of $67.76 and a 52 week high of $89.63.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were paid a dividend of $1.061 per share. The ex-dividend date of this dividend was Thursday, September 29th. This is an increase from W. P. Carey’s previous quarterly dividend of $1.06. This represents a $4.24 annualized dividend and a yield of 5.26%. W. P. Carey’s dividend payout ratio is currently 168.25%.

Analyst Ratings Changes

WPC has been the subject of several research reports. Raymond James reduced their target price on W. P. Carey from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Tuesday, October 4th. Royal Bank of Canada boosted their target price on W. P. Carey from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Monday, August 1st. JMP Securities reduced their target price on W. P. Carey from $93.00 to $86.00 and set a “market outperform” rating for the company in a report on Monday, October 24th. Evercore ISI reduced their target price on W. P. Carey from $90.00 to $87.00 in a report on Tuesday, September 27th. Finally, StockNews.com initiated coverage on W. P. Carey in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

About W. P. Carey

(Get Rating)

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.

See Also

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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